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B of A Teams with Freddie, Credit Union to Offer Low Down Payment Mortgage

FEB 22, 2016 12:39am ET

Bank of America will launch a 3% down payment home loan in partnership with Freddie Mac, but will not retain any risk if the loans default. That’s because B of A will immediately will sell the loans and servicing rights to Self-Help Federal Credit Union, a Durham, N.C., community development lender.

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